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20130221
20130221
Search Results 0 to 7 of about 8 (some duplicates have been removed)
. the warning was aimed at defense department workers at the pentagon and around the world. secretary panetta sent them a written message, as he left for a nato defense ministers meeting in brussels. in it, he said there are limited options for coping with the looming across-the-board cuts. and, he said: >> on our civilians it will be catastrophic. >> woodruff: within hours, top pentagon officials were out, saying employees could lose one day of work per week for 22 weeks. civilians will experience a 20 percent decrease in their pay between late april and september. as a result, many families will be forced to make difficult decisions on where their financial obligations lie. >> reporter: the furloughs could start in late april and save roughly $5 billion. uniformed personnel at war would be exempt, but in a letter to congress, panetta wrote that the spending cuts will slow training and the procurement of weapons. the result, he said, will be a hollow force. the nation's top military leader had said as much last week at a senate hearing on the automatic cuts. chair of the joint chiefs of staf
jennifer griffin live from the pentagon with more on that. >> reporter: today the deputy defense secretary, jon, warned by the end of the year two-thirds of all army units will not be ready to fight other wars, and there won't be enough money to put out to sea a third of the navy ships. the warning comes one day after the pentagon told congress it is going to have to furlough half of its 800,000-civilian workers. the hardest-hit states, california and virginia. our team went to hampton roads, virginia, yesterday. tom taylor owns a ship repair business there. >> it's not like turning on a spigot. you don't turn it on, turn it off, you know? if it's canceled, these things are months or years in the planning stage, so if they are canceled, you know, they don't come right back, you know? so that's pretty alarming. >> i want to know when am i looking -- am i getting laid off in march or april? you're one of those people who are living paycheck to paycheck, then you're, you have no secondary plan, and that's going to be horrible, it's going to cause a lot of stress. >> i'm very concerned about t
billion in budget cuts set to begin in just eight days. on the same day, the pentagon outlined plan toes furlough some 800,000 civilian workers to save money. these interviews are part of the white house strategy to blame potential job losses on the gop. >> instead of us cutting education, instead of us cutting the mental health programs, instead of us affecting military readiness and a whole range of other things that are important to our security and prosperity, we should be focused on programs that we know don't work, waste in government, and some of these tax loopholes that we could close that frankly benefit the well off and well connected. >> now, congress isn't in session this week. it isn't expected to reach a deal by the march 1st deadline to prevent the sequester. so, ideal, the physical mini cliff continues. >>> david einhorn is taking his case against apple directly to the company's shareholders. he's seeking an injunction to get rid of a system to issue pressed stock. einhorn will hold a conference call with investors today, an interesting move and one that's seeing apple sh
is now warning that the pentagon is planning a partial virgo. dagen: to wait in "wall street journal" board member, jason riley. if you look at, it will only be about 45 billion discretionary mandatory cuts. >> we are talking about 7% in defense, 5% and domestic spending. the sequestration goes through, you know, the first responders will go away. cities will burn. border control, at this rate, illegal immigrants will raid this country. connell: you think it is basically no big deal. it is a pretty small percentage. >> there are no efficiencies to be found in government? connell: some republicans will say we do not want to cut the fence. we would rather see the cuts come from elsewhere. >> i think they could be handled responsibly. republicans are trying to give the president some discretion on where the cuts are applied. harry reid and other democrats, however, respond to that. i think this can be done responsibly. whether it is domestic spending or defense. what the president does have in his advantage here is republicans are somewhat divided in this. i think it is important for th
Search Results 0 to 7 of about 8 (some duplicates have been removed)